A recent Bloomberg article highlights the looming economic risks facing the world due to the war in Ukraine, soaring inflation and rising costs. The piece features insights from three market experts who identified the shortage of skilled labor and inadequate education as the next major threat in the coming decade. Abby Joseph Cohen, former Goldman Sachs strategist, emphasizes the need for investment in research, training and education to secure a skilled workforce for the future.
Bloomberg recently published a piece on the big economic risks that are looming ahead for the world in the face of the war in Ukraine, soaring inflation, and rising prices of fuel and basic commodities. The write-up featured the thoughts of three market visionaries on “the next big risk” for the world in the next five to 10 years.
Abby Joseph Cohen, ex-strategist for Goldman Sachs Group Inc. who is currently teaching at Columbia University, is worried about the shortage of labor and the inadequate skills development of students—young people who will be the world’s future scientists, doctors, engineers, and so on. Cohen believes it is important to invest in the future and to take care of workers so that their families are more comfortable.
The CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, is concerned that a deadlier and more devastating virus will be unleashed into the world and cause far worse consequences than what Covid did to us. It is obvious, he said, that we did not learn our lessons after the last pandemic. And so when the next one hits us, it’s likely that we will not have put in place the systems that we need to protect our people and our economy.
The founder and CEO of Moelis & Co., Ken Moelis, believes that the world is heading towards deglobalization, or the tendency of nations to look within and make sure they have enough for their own people. With everything that’s happening around the world today, every nation needs to make sure that they have control over their own food and energy, he says. Otherwise, when the price of oil and gas hits $200, for instance, there may be dire consequences for the unprepared nations.
It is apparent that we should always be looking at future risks and listening to the wisdom of economic experts such as the economic resource persons above, especially now that the new government is just starting its work and lining up the country’s new leaders and new projects for the next six years.I would like to invite everyone to our art exhibit that is opening on August 6, 2022, at 4:00 p.m.
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Global Economic Risks: Labor Shortages and Skills GapBloomberg reports on the significant economic threats facing the world due to the war in Ukraine, runaway inflation, and rising fuel and commodity prices. Three market experts were asked about the most pressing risk for the next five to ten years. Abby Joseph Cohen, former Goldman Sachs strategist now at Columbia University, highlights the impending labor shortage and the need for improved skills development among young people entering key professions.
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Labor Shortages and Skills Gaps Pose Significant Economic Risks, Say ExpertsBloomberg explores looming economic threats stemming from the war in Ukraine, inflation, and rising commodity prices. Three market experts identify the next big risk: a potential shortage of skilled labor in the coming years. Abby Joseph Cohen, former Goldman Sachs strategist and current Columbia University professor, emphasizes the need for investment in education, training, and worker well-being to address this challenge.
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Labor Shortages and Skills Gaps Pose Major Economic Risk, Experts WarnBloomberg highlights the looming economic risks facing the world due to the war in Ukraine, inflation, and rising commodity prices. Three market visionaries, including former Goldman Sachs strategist Abby Joseph Cohen, identify labor shortages and inadequate skills development as key concerns for the future.
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